Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Waterfront Lot on Loch Erin Title is generated by Realmo AI

    Odowling Drive lot 40, Onsted, MI 49265

    View on Map
    Claim this Listing
    For Sale
    $159,000

    LAND - Onsted, MI

    Lot size:
    0.54 Acres
    Added:
    Jan 7, 2026
    Days on Market:
    134
    Last Refresh:
    May 21 at 9:06 am

    Property Features for Odowling Drive lot 40

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    CA0-822-0400-00
    Lot size
    0.54 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    UNIT 40, GILGAL POINTE SITE COND
    Tax Annual Amount
    2936

    Utilities

    Utilities
    Natural Gas Available
    Sewer type
    Public Sewer
    Water front features
    Lake
    Water front
    1

    We can help!

    Listing Contact
    Mark Riggle
    Mark Riggle

    Listing agent Mark Riggle License #6501168133

    Listing office RE/MAX Irish Hills Realty 14589 W US 223, MANITOU BEACH, MI

    Listing date Jan 7, 2026

    MLS# 26000684 Listing URL

    Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Over 100 feet of prime waterfront on Loch Erin.
    • Loch Erin: 640+ acre all‑sports lake with slalom ski course and private parks.
    • Includes EZ Dock floating double Sea‑Doo dock.
    • Public sewer and natural gas available.
    • West‑facing lot in the Irish Hills.
    • Short‑term seller financing available to qualified buyers.

    Overview

    This rare lot offers over 100 feet of prime waterfront on the 640+ acre all-sports Loch Erin. The property provides ample space for a new waterfront estate. Loch Erin features a slalom ski course and private parks. Included with the lot is an EZ Dock floating double Sea-Doo dock. Public sewer, natural gas, and underground utilities are available. The lot is west-facing and located in the Irish Hills. The lot size is 0.54 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Map

    City
    Onsted
    County
    Lenawee
    State
    Michigan
    Longitude
    -84.1752
    Latitude
    42.0093

    Nearby Similar for Sale

    • $299,000
      965 SF

      Profitable Attraction in Irish Hills

      Profitable, renovated attraction near Hayes State Park in Southern Michigan.
      7611 US Highway 12, Onsted, MI 49265
      View Details
    • $210,000

      Land For Sale, Onsted, MI

      Land available for sale in Onsted, Michigan.
      Castlebar Lane, Onsted, MI 49265
      View Details
    • $400,000

      40 Acres Vacant Land Onsted

      Two parcels totaling 40 acres in Onsted, Michigan.
      10000 Stephenson Rd Blk, Onsted, MI 49265
      View Details
    • $14,999

      Residential Lot in Loch Erin

      Vacant land in Loch Erin subdivision, Onsted, Michigan.
      7950 Obrien Court, Onsted, MI 49265
      View Details
    • $21,500

      Lake Access Lot with View

      Large lot with lake access, mature trees, and community amenities.
      9160 Kingsley Drive, Onsted, MI 49265
      View Details
    • $21,500

      Residential Lot in Onsted, MI

      Residential land available in Onsted, Michigan.
      9160 Kingsley Drive, Onsted, MI 49265
      View Details
    • $14,999

      Onsted, MI Land Lot

      Residential land lot available in Onsted, Michigan.
      7950 Obrien Court, Onsted, MI 49265
      View Details
    • $805,000

      Multi-Family Investment Opportunity

      Seven-unit property with potential for expansion in Onsted, Michigan.
      409 Connor Street, Onsted, MI 49265
      View Details
    • $100,000

      Waterfront Land on Loch Erin

      Rare 0.74-acre waterfront lot on all-sports Loch Erin.
      Odowling Drive lot: 39, Onsted, MI 49265
      View Details
    • $72,000

      Onsted Canal Front Vacant Land

      4.77 acre canal front property in Onsted school district.
      10000 M50, Onsted, MI 49265
      View Details
    • $100,000

      Residential Lot in Onsted, MI

      Residential land available in Onsted, Michigan.
      Lot 39 Odowling Drive, Onsted, MI 49265
      View Details
    • $269,000

      Residential Lot in Onsted, MI

      Residential land available in Onsted, Michigan.
      LOTS 39/40 Odowling Drive, Onsted, MI 49265
      View Details

    FAQs

    What type of property is this?
    Waterfront Land - Prime waterfront lot on all-sports Loch Erin in Onsted.
    Where is this waterfront land located?
    The property is located at Odowling Drive lot 40 Onsted, MI.
    What is the asking price?
    The asking price for this property is $159,000.
    What are key features of this property?
    This property features: Over 100 feet of prime waterfront on Loch Erin.; Loch Erin: 640+ acre all‑sports lake with slalom ski course and private parks.; Includes EZ Dock floating double Sea‑Doo dock.
    (517) 547-3340
    We can help!
    Listing Contact
    Mark Riggle
    Mark Riggle
    Real Estate License ID: 6501168133
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    Odowling Drive lot: 40, Onsted, MI 49265
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!